Chemical Week Magazine :: Business & Finance :: Europe/Mideast
BASF Reports Decline in Net Income on Higher Sales
7:26 AM MDT | May 11, 2012 | —Natasha Alperowicz
BASF says it made a “solid start” to 2012, although the company’s first-quarter 2012 net profit declined 28.5%, to €1.7 billion ($2.3 billion). BASF cites a much higher tax rate in Germany this year—39.6% compared with 24.7% in 2011—and the sale of shares in K+S (Kassel, Germany) last year, which was “nearly tax free,” as the main reasons for the decline. BASF’s first-quarter sales rose 6%, to €20.6 billion. “Increased raw material costs could not be fully passed on in all business areas, which put...
This information is only available to Chemical Week subscribers.
Forgot your user ID or password?
Not an IHS Chemical Week member yet?
Here's why you should be:
100% Satisfaction Guarantee